What Is Considered Bad Credit in Huntington, NY?
When you apply for any type of loan, New York lenders look at your credit score to evaluate how likely you are to repay it. Many factors play into your credit score, including any remaining loan balances, your repayment history, the number of open accounts you have, and the age of your credit accounts. While each lender in Huntington, NY has its own benchmarks for what's considered a bad credit score, you may be seen as having bad credit if your score falls below 600. Lenders will also be nervous if you've gone through bankruptcy, repossession, or foreclosure.
Can I Get a Car Loan in Huntington, NY If I Have Bad Credit?
Many borrowers have asked, “Can I get a car loan with a credit score of 600 or less?” The simple answer is yes. But, financing a car with bad credit in Huntington, NY will come with some challenges. Most notably, not every lender is willing to give a loan to someone with poor or no credit, so you may need to spend some extra time finding a lender willing to work with you. Luckily, myAutoloan partners with lenders specializing in bad credit car loans.
Once you've found a lender in New York, you may notice your loan is impacted by your low credit score. A poor credit score might limit your borrowing and lead to higher interest rates. Higher interest rates will mean higher monthly payments and total repayment. Use our Interest Rate Estimator and Payment Calculator to see what the monthly payment on your Huntington loan might look like before completing an application.
Worried about your potential interest rate and monthly payment? You may want to consider increasing your credit score before applying for auto loans in Huntington, New York. Take a look at our Guide to Better Credit for Auto Financing to better understand your credit score and how you can raise it.
Find the Best Deal on Poor Credit Car Loans in Huntington, NY
A bad credit score can increase your car loan rate, so it's more critical than ever to compare lending options and find the right deal in Huntington, NY. myAutoloan wants to make sure you find the best loan — even without the best credit history. All you need to do is select your offer type and complete a confidential, secure application. We’ll show you up to four loans at a time so you can compare rates in minutes. Then, you can select the right loan for you and head to your local Huntington dealership with a check in hand.
Ready to purchase a new ride? Bad credit doesn't have to stop you. Apply today through myAutoloan and compare up to four Huntington, NY bad credit auto loans!